BlueInGreen Acquired by Chart Industries

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Arkansas-based cleantech company tapped to lead Chart’s global water and wastewater treatment markets

We are thrilled to join Chart Industries’ portfolio of proven technologies and iconic brands. - BlueInGreen CEO & President Chris Milligan, PE

Water cleantech company BlueInGreen, LLC—provider of the most efficient method of dissolving oxygen, carbon dioxide and ozone in water—announced that it has been acquired by Chart Industries, Inc. (NASDAQ: GTLS), a leading diversified global manufacturer of highly engineered equipment for the industrial gas and energy industries.

The groundbreaking partnership combines the experience of BlueInGreen’s award-winning team and the performance of its patented gas dissolution technologies with Chart Industries’ unique product portfolio to deliver unmatched treatment solutions to municipal and industrial markets. The acquisition strengthens the connection between the industrial gas and water markets, setting the stage for a game-changing opportunity in the water treatment space as the industry-wide trend of replacing chemicals, polymers and ambient air with oxygen, carbon dioxide and ozone continues to gain momentum and market share.

“In addition to this being a natural fit for us, we gain an experienced management team full of engineering and industry experts who are committed to staying with the business,” said Chart Industries CEO and President Jill Evanko. “Chris Milligan, CEO and President of BlueInGreen, will run the combined business and work closely with our global commercial and engineering teams as we bring our combined offering into domestic and international water treatment projects as well as leveraging the unique opportunity that Chart has with hydrogen, LNG and water working together to address sustainability, power and water needs.”

Chart Industries is a global manufacturer of equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The Company offers vacuum-insulated containment vessels, heat exchangers, cold boxes and other cryogenic components to the energy and industrial gas markets. With domestic operations across the United States and an international presence in Asia, Australia, Europe and Latin America, Chart is positioned to implement BlueInGreen’s solutions on a global scale within a wide range of industries and applications.

“We are thrilled to join Chart Industries’ portfolio of proven technologies and iconic brands,” said BlueInGreen CEO and President Chris Milligan, PE. “This partnership pairs BlueInGreen’s expertise with Chart’s global footprint, allowing for enhanced integration, increased response time and a more robust service fleet as we collectively bridge the gap between industrial gas and water markets.”

“Each company benefits tremendously from this partnership,” Milligan said, “but so do our end-users.”

The combination of Chart equipment and BlueInGreen technology delivers a solution that consumes 20% to 40% less gas than other alternatives for the same level of treatment while featuring the smallest energy, carbon and physical footprint available. This complete dissolution package is offered through a Treatment-as-a-Service (TaaS) contract, capital sale or a combination thereof via à la carte services.

With over 150 years of combined water treatment experience, BlueInGreen—as well as its contract services division, BIG Aeration Services—continues to be sought out by elite, third-party consulting engineering firms—such as Jacobs Engineering, Black & Veatch, CDM Smith, Stantec, Burns & McDonnell, Carollo and Brown & Caldwell—and by top brands—like Georgia-Pacific, Del Monte Foods, Campbell’s and Tyson Foods.

“Strategic acquisition has always been part of our long-term growth strategy,” said BlueInGreen CFO Scott Goodson. “And we could not ask for a better business partner. With Chart’s international recognition and existing sales infrastructure, BlueInGreen’s momentum in the U.S. and abroad is only expected to accelerate.”

Named one of the fastest-growing private companies in America by Inc. Magazine, BlueInGreen recently surpassed its 100th installation after being selected by California’s East Bay Municipal Utility District (EBMUD) to implement proactive measures to ensure reliable, high-quality drinking water for 1.4 million people.

“In terms of corporate values, Chart and BlueInGreen are an excellent match,” said BlueInGreen Chief Marketing and Business Sustainability Officer Tyler Elm. “Our respective products have always been complementary to the other’s value proposition. Now—together, with an integrated, whole solution—we are even better positioned for success in a world challenged by unprecedented demand for energy, food, fiber and water, insufficient and crumbling infrastructure in addition to the compounding effects of climate change. But ultimately, this benefits the water treatment professionals and communities we serve.”

As outlined in the acquisition agreement, BlueInGreen will retain its distinct brand identity and corporate headquarters in Fayetteville, Ark. as its team continues to empower water professionals to achieve their treatment objectives with the lowest combination of risk and costs while driving enhanced outcomes for people, communities and the planet.

“While we are far from our startup days, our services, our technology, our team and our mission at BlueInGreen have not changed. We are just as hungry, just as entrepreneurial as ever,” Milligan said. “We will always be BIG. But with Chart’s wealth of knowledge, relationships and resources, BIG just got a lot bigger.”

About Chart Industries
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. The Company's unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO₂ Capture amongst other applications. It is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, the Company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit chartindustries.com.

About BlueInGreen
BlueInGreen, LLC (BIG) is a water cleantech company and gas dissolution expert that provides the most efficient method of dissolving gases in water. BIG solutions empower water treatment professionals to make a difference by making water treatment processes more efficient, more effective, safer and more environmentally sound. With over 100 installations in North America treating over 1 billion combined gallons of water each day, BIG offers the most cost-effective solutions for oxygenation, pH adjustment, oxidation and odor control. For more information, visit blueingreen.com.

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Cambron Clark
@BlueInGreenLLC
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